Hi,
Can any one tell me what is the use of Choose set of books in payables when we create new payables responsibility, when we already have GL:Sets Of Books profile Option available. What is the importance of choosing a set of book and how is it differ in GL SETS OF BOOKS OPTION.
Regards,
Shashi.
Choose set of books
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- Location: India
Hi Pinnaka,
Thanks for your reply, I am not clear with what you said.
Set of book never mean legal entity. Legal entity is one step down in the organization hierarchy and one set of books can have more then one legal entity. I am still not clear with the difference of choose set of books and select GL sets of Books profile option.
Regards,
Shashi.
Thanks for your reply, I am not clear with what you said.
Set of book never mean legal entity. Legal entity is one step down in the organization hierarchy and one set of books can have more then one legal entity. I am still not clear with the difference of choose set of books and select GL sets of Books profile option.
Regards,
Shashi.
Your set of books defines the account structure, accounting calendar, and functional currency your organization uses to record transactions in Payables. If you are not using the Multiple Organization support feature, you can choose one primary set of books for each installation of Payables. You can choose one primary set of books for each installation of Payables. You can choose a secondary set of books in the Accounting Methods region of the Payables Options window if you are keeping both an accrual and cash set of books.
Your system administrator associates sets of books with one or more responsibilities. Your responsibility determines with which set of books you are working. You have the option of setting up multiple organizations within one installation of Payables. Your system administrator associates a responsibility with a particular organization and set of books. The name of your set of books appears on all reports you generate in Payables.
Your system administrator associates sets of books with one or more responsibilities. Your responsibility determines with which set of books you are working. You have the option of setting up multiple organizations within one installation of Payables. Your system administrator associates a responsibility with a particular organization and set of books. The name of your set of books appears on all reports you generate in Payables.
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